Cardano – ADA Ethereum – ETH CARDANO “Mini-Ledger” Activates | ETHEREUM GOES DOWN | MakerDAO ADDS A.I.Foreign Shaky footing push buyers back into Bitcoin what we’re going to be discussing this among many other topics including cardano’s mini Ledger the Federal Reserve fednow CBD system which is going live in July adds a blockchain for support we just heard ethereum goes down maker Dow integrating AI the Chamber of Commerce and coinbase slam the SEC in 300 million dollars in crypto back to customers we’re gonna be discussing all these Topics in today’s video as always this is the cryptaviser podcast we talk about crypto blockchain and investing every single day since 2018 and I try to bring you the latest Happening in the financial World sometimes before it actually happens so do me a favor and give this video a free thumbs up it lets me know you guys enjoy this content it lets YouTube know you guys enjoy it and it’s free to do don’t forget to also hit the Subscribe button That way you never miss a new video every single day and if you want to help support the channel for just one dollar per month and 99 Cents sorry 199.click that join button down below to learn more about becoming a channel member and by the way to all those whiners out There but crypto visor your title is clickbaity then don’t watch the video the there are some really low IQ people who think that they’re investors who read a a title of a video and say well that’s not entirely true it’s like well did you even watch the video and if the Answer is no then why are you even commenting block that’s what we do on this channel those people get immediately blocked and we move on because this channel is about learning about investing strategies and my goal is to us help you know my viewers understand my investing opinions and Strategies that way they can create their own investing strategies and build their own wealth and secure their own Futures now we’re going to be starting right here this is at one of the conferences just recently Eric Voorhees Eric Voorhees who’s the founder of shapeshift and also been in the crypto Universe for Probably over 10 years now he was interviewed by coindesk and as we are seeing a huge decline in the prices across the board in crypto I’m seeing a lot of fear in the markets right at the end of the day as I’ve explained to you This is still a bear Market we are still in a bear Market the markets still are going to be very volatile I mean if we think about it pretty much Bitcoin and many other altcoins have at least doubled since the FTX collapsed which was just about six months ago to the day so You know listen guys there’s a lot going on in the crypto verse there’s lots going on in the traditional Financial ecosystem as well which we’re going to be talking about in just a few minutes here but at the end of the day where are we in a decade let’s listen to what Eric Voorhees says about this very topic well crypto OG I think you’ve been around before coindesk was founded 10 years ago and I just wanted you to reflect on the past decade of crypto are we where you are expected now yeah I think things are pretty much on track you know it’s been Like a volatile ride but we have a multi-hundred billion dollar industry that the much of the world is paying attention to um it’s growing every year and we’re finding more and more use cases for this stuff so um blockchains are proving themselves as like a credible alternative to the Fiat Financial system And that’s always been the dream and what we are seeing now is yeah the traditional Financial system is going through it right we’ve seen Banks failing we have seen uh you know essentially de-dollarization occurring around the world we’re continuing to see inflation soaring over five percent year Over year it’s been over it’s been over five percent year-over-year inflation for the last year or so so you do the compounding numbers and figure out what it was pre-pandemic versus now the inflation rate is extremely high and this as the shaky U.S treasury could push buyers back into Bitcoin so understanding of really what’s going on here ongoing talk around the debt ceiling and defaults is certainly not helping the cause for confidence in America’s economy but it may attract buyers to hard assets like Bitcoin to weather this storm on a recent podcast the head of digital Assets at golden tree ahead of global and trading at Cumberland spoke to block Works about the possible Market reactions to a technical default in the U.S debt one of the guys said what do you think the price of Bitcoin is in that scenario if that headline hits the Tape he said my bet is that the headline send us past thirty thousand dollars maybe to thirty five thousand He suggests that the Confluence of debt ceiling panic and The Narrative of Bitcoin is a hard asset could lead to a burst in buying sentiment he’s even more optimistic about Bitcoin Market action Saying I think that we could definitely see all-time highs in the short order and if the U.S were to default so at the end of the day right we are approaching this debt ceiling limit we’ve already passed it but this like you know what the treasury calls them using Extraordinary Measures to keep the economy going and keep the government running apparently from what Jenna Yellen is saying is going to be June 1 or around that date I would imagine it’s probably going to be after June 1 but June 1 they’re giving us the deadline for this Uh before the U.S can pay its debts can’t pay its bills defaults on the debt and what would that do to the other markets now remember they are going to raise the debt sale it’s just a matter of when they’re going to do it are they Going to do it now are they going to do it in July maybe August maybe September they’re going to do it this is it always gets raised it’s just a matter of how much they’re going to raise it by and for how long they’re going to raise it so if they say okay We’re just going to raise it for another year and then we’ll reconvene in a year and then they’re going to go through this whole situation all over again that could put us into default until they make that agreement and then you know push the push the can down the road to next year But I think the more likely outcome is they’re going to let the Deep the debt default and not raise the debt ceiling and then sometime after they the Panic is created they will raise the debt ceiling because everything is lining up right we’ve been talking about the cbdc FED now and we’re Going to be talking about fed now in just a few minutes here because fed now has now inter integrated with the metal blockchain directly but before we go there the fednow system which is a cbdc or Federal Reserve instant payment system is going live in July in or around July We have a Litecoin having in or around July we have the debt ceiling increase potentially in or around July and so all of these events from a macro standpoint this is a perfect example of the difference between just analyzing the markets and taking day by day what the Prices are and macro investing macro investing is looking at everything going on all at once right like the movie everything everywhere all at once and putting things together and saying okay are we going higher in the shorter term I’m not worried about the price as we’re moving down recently right but as We enter the end of May into early June and this debt ceiling situation continues to escalate which I think it will and then if we have the debt ceiling D or the debt default in the U.S and then the Federal Reserve meets in June and they raise rates again this is Going to push markets significantly lower in my view but this has the potential to push crypto higher because people are probably going to start exiting the dollar who are in the dollar whether it’s businesses individuals millionaires whatever they’re going to exit the dollar and they’re going to Want to go into other assets like gold silver other metals and cryptocurrency and so in the short term as we approach this June July August time frame I think that it’s highly likely that we’re going to go higher in the markets as I have been predicting all year long if you Look at my February 1 2 sweet from 2023 I said in or around May of this year will be the crypto Market top right now we’re in and around May and everything is lining up that we are going to see this happen within the next 30 60 or 90 Days and this in my view is a profit taking opportunity doesn’t mean that you have to close your entire position but I am planning on taking profits out of many of the altcoins that I’m in because I believe if this is the top of the market for 2023 the debt ceiling the FED now system you know and all of this I believe that what we will see is a big move up and then profit taking and then the big move down into the end of the year as we approach the having cycle in 2024 Potentially other macro events that will cause a catalyst and capitulation event like we saw with the FTX collapse nobody was expecting it except for you guys who watch this channel because I was telling you guys from pretty much the beginning of 2022 that we would bottom out in the market In or around November of 2022 and we did exactly to the day of my prediction all year I was explaining that right so you guys were well set up and again nothing I see is financial advice I’m just letting you guys know my opinions on the market my strategy and my thesis And this could be different than yours that way that is part of the reason you need to do your own research before you make investment decisions and don’t make investment decisions based on what I say so this is kind of the analysis and the thesis for me of why the markets are Going to go higher this uh analyst that was uh spoken to here says that they think that Bitcoin will go to 30 or 35 000.I think that 40 000 is is highly likely we’re probably not going to go near the all-time record high of 70 000 And I would imagine many of the altcoins will probably also not reach or even get close to their all-time highs now it’s possible but I think for the most part they’re just gonna pump a little higher maybe ethereum to 2000 maybe cardano to 50 cents uh maybe Solana to thirty Dollars but not major moves and again remember we’re now down fairly substantially I mean polygon for instance when I’m recording this video is now 83 84 cents just about a month ago we were almost double that so this is a 50 decrease in the price in About a month and some of the altcoins have lower decreases but they still have uh you know decreases and this may continue as we get to the fear gauge uh as we approach this debt ceiling so we’ll have to keep our eyes on this but understanding also that the federal Reserve’s fed now system is releasing in July and this is what many claim are the basically the Federal Reserve cbdc or Central Bank digital currency and now what they’re doing in the lead up to this launch is they’re working with providers and people and I would imagine mostly Banks and financial services that Are going to be connecting into the FED now system to test everything out and make sure that everybody knows how it works but the Federal Reserves forthcoming instant payment system called fed now will be connected to the metal blockchain according to an announcement from the metal blockchain team the announcement said that the Integration will allow metal users to instantly convert funds to stable coins and Back Again using fednow’s send and receive function this is the announcement right from their website uh or I should say their press release it says metal blockchain a layer 0 blockchain can offer financial institutions or end users the ability to Support implementing and innovating uh upon the FED now service the FED now service the federal reserve’s new instant payment infrastructure that enables participating financial institutions to send and receive money 24 7 365.
with metal blockchain’s robust secure and scalable architecture financial institutions and end users can leverage its capabilities to integrate With fed now seamlessly so that’s interesting it’s really interesting because I don’t know whether this fed now system is going to be open source or it’s going to be a closed system I would imagine it’s going to be closed and So currently U.S residents can only make instant payments domestically through third-party apps Such as PayPal or venmo or crypto wallets now it’s going to be able to be done internationally and uh you know for cross-border payments through this Federal now or fednow system metal blockchain is a crypto Network developed by meticulus based on a fork of avalanche’s code it was created to offer Compliance friendly options for D5 developers in the announcement they said developers claimed that the network is built on the foundation of Bank secrecy at compliance implying that it is identity verification and anti-money laundering features built in according to the documents the network features a subnet called X chain that can allow Developers to enact rules for transferring assets for example a token can be issued with a rule that it can only be sent to a U.S citizen or can’t be traded until tomorrow coin Telegraph couldn’t verify what criteria fed now will use to decide who can integrate with the payment system however most Blockchain networks use pseudonymous addresses as user identities which means they can be seen as not complying with the bank secrecy act this may explain why metal is one of the first blockchain networks to be listed as a Fed now service provider so the meticulous co-founder and CEO set to coin Telegraph That Metals connection to Fed now could enable the formation of interconnected Bank chains creating a larger blockchain ecosystem that is secure and does not rely on oracles this it will allow Banks to communicate with each other to process payments and handle settlements while staying connected to the fednow System he said that it also allows Banks to prepare for an eventual cbdc as well as for Bank issued stable coins that can interact with a basket of stablecoin currencies hello we are seeing very clearly this is going to be a cbdc it seems like the use users and the Infrastructure providers of it are also stating that this is kind of the the the pathway towards the cbdc right they may not be releasing what a cbdc now or a coin or whatever digital dollar but they’re preparing for it and why are they preparing for it when the U.S Treasury is shaky we’re seeing treasury yields kind of all over the place I mean if you go to market watch and then click on rates really The Benchmark is the 10-year yield uh it didn’t pop up properly so let’s do try that again basically the 10-year yield is The Benchmark for really where the the rates are where the debt Market is so you can see this 10-year yield on this chart I’m going to pull up the we’ll pull up the six month chart you’re going to see a lot of volatility a lot of up and down And it’s really been trending downwards not upwards even though the Federal Reserve continues to raise interest rates and so when the when the 10-year yield is lower that means that more money is getting put into the debt market and when the the rates go higher that means money is coming out so what We know is money is being parked and the money is not being deployed right money is on the sidelines it’s in the debt Market in this 10-year yield right for 10 years you would get 3.44 interest for a 10-year hold right and we know inflation is higher than that right now So obviously that doesn’t make sense but people are in this people are out of the markets because of all the volatility because of all the uncertainty because of all the movements the upside and the downside in these markets like I go back to Apple right a lot of you guys can’t Stand me talking about Apple on this channel you guys must hold a lot of Apple if this really bothers you but anyway apple is currently worth 2.7 trillion dollar market cap right like how much higher can it go if you own even one share of Apple you need to ask Yourself that like is it highly likely that apple is going to go to five trillion dollars which is basically almost double where we’re at or a little bit more than double a little bit less than double sorry um or are we going to go down in the in The short term in my view the likelihood is to the downside for these mega mega stock uh stocks because if you look at like something like Tesla Tesla came from over one trillion dollars to where it is today at 5 basically half a trillion but last year during the bull Market we were double this we were at over one trillion dollars right it was at a 400 valuation which is more than about two and a half X basically so that would be like almost 1.5 trillion dollars and so when I look at Apple when I see the high height ultra high Valuation of this stock and I look at where the stock markets are generally speaking where most stocks have come down ninety percent eighty percent fifty percent it doesn’t make sense and now the Federal Reserve is releasing its instant payment system connecting into blockchains guys this this could be a huge Catalyst I mean imagine Federal Reserve says we’re we’re launching fed now we’re going to interoperate with any blockchain that wants to plug in Imagine they say imagine where the crypto Market would go if they said that it’s really incredible to even think about but eventually this is going to happen they Are going to interoperate blockchain uh with these centralized systems right the Federal Reserve the banks they want to be involved they may not say that they want to be involved they may not directly say they’re do you think that like I just saw an interview with Jamie Dimon the CEO of JPMorgan Chase Bank and he was basically like people who write on Twitter that the banks are failing get your money out of the banks and basically stating that tweets can instigate a a bank run which is a ludicrous right especially the bank a Bank run basically means you’re going to the bank and asking for your money they don’t want you to ask for your own money think about that but anyway do you really freaking think that Jamie dimon gives a about these small Regional Banks like signature or Silicon Valley Or silvergate no do you think they care about Credit Suisse going down no they don’t care you know why because when those Banks go down who bought some of the banks recently that went down JP Morgan Chase so they get to buy up these assets at a Fraction of what they actually are worth they like that right they like that do you think that Jamie Diamond going on stage and saying oh well you know crypto is all manipulated I would never let any of my employees touch crypto well that was granted that was back in 2018 2019 and JP Morgan was not in their employees were not using blockchain or crypto but what was JPMorgan doing they were taking money to the tune of tens of millions of dollars and investing in consensus which is the main developer of ethereum and we know this because they said it we know This because they’re using polygon defy JPMorgan utilized D5 on polygon this within the last year within the last 12 months and so what is polygon it’s a layer two built on top of layer one ethereum for decentralized finance and you have a major Bank funding the Development of the layer one and I would imagine some of the layer two and then using polygon for decentralized finance they’re already involved in the crypto ecosystem they may not be telling you that they may not be telling their customers that but they are and it’s very obvious so they’re involved in Crypto and in blockchain you really think that they’re not going to integrate at some point maybe it’ll be 10 years from now maybe it’ll be 20 years from now knows maybe it’ll be six months from now where the Federal Reserve is going to integrate and connect to these public blockchains and Bring some of the bank laws and banking regulations into the blockchain ecosystem whether it’s through them creating their own nodes or forcing compliance with American node operators I don’t know it’s going to be really interesting to see this how it plays out because you know this is the new world of Finance and the the market cap of crypto let’s just go back to this for one second if you go to the main page on massari and click go to dashboard right here on the left side of the screen I’m I’m hovering over it right now with the mouse 1.12 trillion dollars is the entire market cap of every cryptocurrency worldwide everywhere globally right now 1.12 trillion dollars Apple stock is 2.7 trillion more than two times the entire market cap of the crypto ecosystem now I am somewhat saying this to say that I think that Apple’s going down but More to say guys the crypto Market is so tiny right now in terms of market cap in terms of valuation in terms of use cases in terms of investment there is literally infinite growth I have no I I have not seen any other asset anywhere including Apple including Tesla Including every stock that you love that there is so much upside potential when we understand that the goal the physical gold market is around 10 trillion dollars maybe 15 trillion uh and the the global derivative Market is in the quadrillions that’s a thousand trillions quadrillions these banks have quadrillions of dollars in derivative Debt right so it’s not just a run on the banks if the if the financial ecosystem has a has a hiccup right if we default on the debt and the markets start to plummet you think the Federal Reserve is going to stand by and say oh we’ll just Let this happen you think Congress is going to sit by and watch the markets Fall by 50 in a week I don’t think they will maybe we’ll go down 20 maybe then another 10 maybe then another 10 on that but the more you go down the those 10 Percentages get smaller and smaller but regardless that’s still a large amount right if we go down 30 percent of the stock market if the s p goes from 4 000 to maybe 3 500 that’s a 600 Point decrease and people who don’t remember this happening because just a year or Two ago we were seeing thousand Point moves on the Dow Jones s p on the NASDAQ we were seeing swings I I don’t even think some people could even imagine to the upside and the downside there was so much volatility and right now we don’t have that much volatility the vix which Is the volatility index is that you know multi-year lows right the one year we’re at one year low five-year basically at the low point so understanding that there is not that much volatility going on but there could be and that volatility will be more to the downside we know that there’s a lot Of money in the debt market right from looking at the 10-year yield we know that there’s a lot of companies that potentially are highly overvalued for what they do and compared to other competitors in the same kind of field of Apple 2.7 trillion and look at look at Crypto like crypto is so tiny even just look at Bitcoin versus apple Apple stock Apple stock is more than five times the entire market cap of Bitcoin worldwide And if every millionaire in the in the world wanted one quarter of a Bitcoin it’s not possible there’s not enough Bitcoin in Existence and this leads us to what else is coming the AI Revolution now we’re going to come back to Marathon uh in just a few minutes but before we go there I didn’t want to go here either I’m I think my articles are out of place Okay here we go maker Dow unveils AI fueled roadmap to the new blockchain and by the way don’t forget to give this video a free thumbs up if you haven’t done so already I upload every day of the year since 2018 to bring you the latest happening in the financial world Five years strong on this channel thank you to all of the subscribers members long-term viewers and uh even the haters we love you all anyway uh so yeah I have been saying that the next thing the next like D5 or next oracles or next nft the Next big category for crypto is going to be Ai and as we move into the bull market in 2024-2025 I think that any crypto that is related to AI that unveils projects connected to AI it’s going to fuel these these coins substantially because right now we’re Starting to get the this is like the preview to what is coming in the AI sector from investment opportunities next year when they are printing more money there is a presidential election when the markets start going higher when the economy gets better right hopefully it’s next year in 2024 maybe it’ll be This year in 2023 we’ll have to wait and see but when this happens and money starts moving back into Robin Hood back into uh you know investment funds we’re going to see a lot of money moving into Ai and anything related to AI so what we need to be doing now is looking At which companies which cryptos which projects are starting to talk about it and understand what they’re doing I mean maker Dao is releasing an entire road map related to AI within their blockchain so maker Dow published uh a broad road map for a major update called end game designed to quote enhance Efficiency resiliency and participation the update will use AI tools and apply them to open scalable processes the plans short-term goal is to become the most widely used stablecoin project within three years um so end game sorry I’m trying to pause this I cannot stand autoplay anyway end game Project end game on maker Dao will streamline and parallelize the maker ecosystem launching a new unified brand identity in the flagship release of six new sub Dows or decentralized autonomous organizations that can be farmed by users that will spearhead permissionless Innovation and collateral allocation whoa that’s very wordy so the upgrade Will ultimately lead to the deployment of a new blockchain that is tightly coupled to ethereum while increasing the governing security of the ecosystem and implementing a full range of advanced end-game features and tokenomics as a first step a beta launch is set to arrive several months will in several Months we’ll focus on establishing a unified brand for the identity while the die stable coin and maker governance token will not be altered an upgrade to new versions currently being called new stable and new gov token will be possible new stable will be a new erc20 wrapper of the same underlying stable Coin as die while the new gov token that’s what it’s called new gov token will be a redenominated version of maker with a larger Supply maker and die are established and trusted brands in the cryptocurrency space Unfortunately they have drawbacks including having two separate Brands rather than a single Cohesive concept the end game transition is the ideal time to fix the fundamental issue following the beta a second phase will launch of the six so-called sub-dials that will be a function as born decentralized specialized divisions within maker Dao the plan aims to remove costs and complexity related to daily Operations and delegate away the bulk of complexity and risk and so we are seeing right these ecosystems are literally ecosystems right ethereum is a layer one it’s connected to other layer ones it has layer twos layer threes layer fours it has so much utility and usage built Within it and that connect to other blockchains that also have the usage so you know it’s it’s continuing to expand it’s like a new city being built right they start in the center and then there’s building out and then out and then out and then before you know it you Have a whole city in suburbs and homes everywhere and businesses and it just it grows and that is what these ecosystems are doing and this is happening at a very rapid pace and actually I believe that as AI continues to develop and enhance and learn more and faster we’re Going to see even more of this interconnectivity between all the different worlds of Finance so a third phase of this project we’ll see an introduction of AI tools for governance monitoring and Improvement while a fourth phase will launch a program for governance initiatives the fifth and Final Phase of project end game will see the deployment of a new blockchain currently being called new chain wow that is a very original guys anyway the chain will have the ability to use hard Forks as governance mechanism and will also have features to optimize it as a Back end for AI assisted Dow governance processes and AI tools users including smart contract generation State rent and in protocol Mev capture the launch of new chain will be the last step in the End Game launch process and once it’s deployed maker Dow will permanently enter the end game state where further Major change are impossible and its core processes and balance of power remain decentralized self-sustainable and immutable forever that seems like a doctor evil uh Point anyway so very interesting stuff here right because we are seeing a lot of these D5 projects like true true D5 projects basically becoming completely Self-sufficient to the beginning of this video with Eric Voorhees he’s the founder of shapeshift and shapeshift a few years ago completely went decentralized gave up all power to the community uh and basically it’s a self-sustaining decks and ecosystem and they did this before all of this regulatory ecosystem is coming in and Trying to stifle Innovation and go after every crypto project imaginable so they’re building new governance within the ecosystem true decentralization and AI building within that seems bullish to me anyway not Financial advice do your own research now we also just recently heard Marathon digital has moved to Abu Dhabi they are not Fully but they are opening a I think 500 megawatt Bitcoin mining Farm over there we also just heard that the SEC is asking for more documents for Marathon digital about some trades or possible insider trading going on but now we’re seeing that Marathon digital sees 51 million dollars in Revenue as 74 Year-over-year increase in Bitcoin output in q1 now I am very bullish generally speaking on every Bitcoin mining company especially the ones that are highly undervalued I think when we pulled this up on the video the other day marathon is a little bit overvalued in my view compared to where the other Bitcoin mining companies are for instance using Marathon digital as a example it’s 8.66 the market capitalization is 1.45 billion dollars now they obviously most of the mining companies they’re spending a lot but not making a lot they had a loss of about 700 million dollars last year in 2022 But if we look at core science core scientific from my understanding is a larger Bitcoin mining company they have more Bitcoin miners online than it most other publicly traded companies in the world with over five percent of the hash rate even though the company is in bankruptcy the stock is 35 cents the Market cap is 131 million dollars so less than uh basically less than 90 percent uh more than 90 percent less than Marathon Marathon was 1.5 billion of course scientific is 131 million right that’s less than 90 more than 90 percent Dr difference sorry I haven’t had coffee this morning So that’s why I may be a little bit tongue-tied but anyway so they have similar losses 2.15 billion dollars last year and they are in bankruptcy but remember they got bailed out by core scientific by B Riley they were given like you know something like 50 to 100 Million dollars in Runway and loans for the next few years to kind of get through everything and they still have the hash rate of 5.05 of the world’s Bitcoin mining capacity the these I mean it’s very clear to me that these are better this is probably a better pick Than Marathon okay but understanding what’s going on with marathon is important because maybe Marathon will drop in in valuation and then that will give us an opportunity to go pick some up if we think that it’s a good company Marathon digital reported quarterly results on May 10th of 2023 they said After weathering a tumultuous 2022 This Year is off to a strong start as we grew our hash rate reduced our cost to mine and improved our balance sheet during the first quarter they said they saw 51.1 million in Revenue in q1 of 2023 down from 51 million in q1 of 2022 but Remember 2022 that was the end of the bull market uh so the company saw a net loss of 7.2 million dollars in q1 lower than the net loss of 12 million it saw a year ago so even when they were making you know more money last year And not by much they were losing almost double the amount of money that they’re losing this year so the company produced 2195 Bitcoin in q1 which was up 74 from q1 of last year and up 41 from Q4 of last year and so the company’s hash rate Rose 69 to 15.4 extra hashes from 9.1 extra hashes per second and so they sold more Bitcoin uh obviously we’re seeing pretty much all of the Bitcoin mining companies selling over the last year into the bear Market which is like they didn’t sell any during the bull market I Really don’t think that they did many of us sold in January of 2022 and we saw these Bitcoin mining companies selling in August of 2022 after the market like went down by a factor of over 50 percent in that time frame so I’m glad that people you know took The macro analysis and researched on their own and made the decision to pull some profits out of the market because you guys you know then had even more money to go and reinvest as we hit the bottom in November of 2022 at the FTX collapse so congratulations to every Single one of you who did that anyway moving on to ethereum ethereum is Beacon chain suffers a brief finality issue and they still don’t know what the reason for this is at least at the time of me making this video so the ethereum network appears to have suffered a Technical issue that for a temporary period meant the transaction finality was not occurring the cause of the issue was not clear for now network data and statements from developers indicate that transaction finality referring to the state in which a transaction cannot be changed it’s a final transaction that Returned they said finality has been restored we do not know the root cause but something happened to cause severe client implementations to work really hard to keep up with the chain data sources from the ethereum network show the issue was experienced by validators and validators we know are node Operators they propose attestations as Network process transactions data provider Beacon chain shows that ethereum epochs two of these these numbers I’m not going to read them so a steep drop in the number of additives stations received the first problematic Epoch was at 4 13 pm on that day and the Issue was resolved within half an hour according to network data in the wake of the incident community members pointed out to client diversity meaning a variety of software clients available to use by those validators as a reason for why the issue wasn’t more widespread or long-lasting so the different types of Software running the actual ethereum blockchain that way if one of them had a bug the other ones still are able to operate this is redundancy at its best right think about like what Elon Musk does with sending a ship to outer space they have to think of everything that could Possibly happen and account for that what if one of the engines fail what if two of the engines fail what if all of the engines fail what if the electricity goes out what if one of the windows breaks and they have to account for everything that way if one thing breaks The the whole ship is not you know and the people inside are not just you know nothing right there’s other there’s other systems that go into play same thing on an airplane right if one engine fails another engine can still land the plane safely so having that redundancy In place for these networks is super important to make sure that these ecosystems are still able to operate that way if one of the clients has an issue or a bug in it that doesn’t allow finality I mean finality is important because before you finalize the transaction you can’t really transact More otherwise you’re going to get double spends if you’re allowing Morse continuing to spend even though finality hasn’t occurred the transaction cannot be changed it’s a final transaction right so yeah interesting stuff guys and through all this all the ethereum maximums say oh no no the blockchain didn’t go down it’s like guys Litecoin and Bitcoin and Litecoin actually has more uptime than Bitcoin but those two chains are the number two number one and number two chains that are basically up 100 in the last 10 years every other major chain has had down time has had issues processing transactions or just been a complete Solana situation where the blockchain goes down every single month anyway also staying within the ethereum ecosystem ethereum staking rate could double over the next 18 months according to State now uh ethereum is seeing a surge in staking activity following that chappella upgrade that enabled validator withdrawals for the first time total eth Deposits during the week ending May 2 were four times higher than the amount added in the week before the chappella upgrade that happened in April that data comes from a report by state a non-custodial staking service provider and a subsidiary of crypto exchange Kraken now understanding a little bit More about I can’t even pause this video like block what are you doing anyway they said based on the increase in staking demand we expect the each stake rate to increase from around 15 percent of the overall circulating supply to the 20 to 35 percent range in the next 12 to 18 months State said noting that the average daily deposits are currently six and a half times higher than in April the company said that 750 000 ethereum have been staked in the six days following the chappella upgrade that’s more than six hundred thousand ethereum staked an entire month in March now There’s going to be people who come on the video and say but cryptovisor you are saying this and that about ethereum and none of it first of all the price did go down we’re at pre-chapela upgrade prices so anybody who said or told you that the price was Going to go higher and much higher they lied to you but yeah what I did say was we were probably going to see an initial withdrawal time period and then we’ll start to see some of these people who are waiting on the sideline lines until withdrawals went into place start to Enable staking we’re also seeing staking becoming more widely available through wallets and exchanges and so doing all of that creates the ability and the and by the way also lower prices mean there’s more accumulation means more people are going to have coins to stake and then they’re going to go and stake Those coins to make some more money as we wait and approach the Bitcoin having cycle of 2024 and hopefully price is going much higher after that so yeah you can see there wasn’t any major major like jumps or drops you saw a little bit of a jump before the chappella upgrade And then a drop after the Chappelle upgrade and now we’re basically recovering from there now will we you know double in six months or 12 months I don’t know uh the the longer you go the the harder it is to get more of the circulating Supply staked Because we don’t know where all those coins are we don’t know if they’re controlled we don’t know if people really care about staking what is the return rate on that staking when you see once we see that number stabilize and I don’t know when we’re going to see the Number stabilize because if we look at cardano’s staking ecosystem and we’re going to be talking about cardano in just a few minutes here cardano staking ecosystem basically launched with over 70 percent of the entire Ada staked granted the percentage went a little bit higher sorry 70 of all the Ada in circulation Was staked and it’s still basically currently staked so it’s a little bit less than 70 but it’s around 70.we didn’t see major moves to the upside we saw like the club maybe close to 80 percent of cardano staked at one point and then it dropped back down but when Cardano first launched it was it was where we’re at today in the 70 range and so I don’t know where they’re getting this idea that if somebody hasn’t already staked their ether why are they going to do it in three months from now right think about that if you are Holding ethereum and you can stake right now and get rewards and be able to withdraw why are you not doing it right now why what’s going to make you do it in three or four months from now I don’t I don’t I don’t see the the math there so I Don’t necessarily agree with this article and with steaks saying that they’re gonna see this um the staking rate double in the next 12 to 18 months I don’t agree anyway we can agree not agree and still get along so U.S Chamber of Commerce blasts the SEC approach to Ethereum and coinbase and so the U.S Chamber of Commerce so let me see if I can pause this you guys see how hard it is that was pretty quick anyway uh by the way if you’re up to this point in the video don’t forget to give the video A thumbs up and uh tomorrow I will definitely have coffee for the video and uh I hope you guys do as well the U.S Chamber of Commerce one of the most influential business advocacy groups in the country is taking up the banner of digital asset critics of U.S regulation And Blasting the SEC approach to ethereum coinbase Kraken and the broader digital asset industry the association lented support to coinbase’s lawsuit against the SEC for a response to requests for crypto specific rulemaking coinbase filed a writ of a mandemus lawsuit against the SEC last month following up on a request made last Summer for new rulemaking specific to digital Assets in its own filing in support of that suit the Chamber of Commerce argues that the lack of direct response from the SEC to coinbase’s request is causing substantial economic harm to both coinbase and the broader business Community they also criticized the commission’s enforcement action Against Kraken staking as a service business the company settled and ended that business line in the U.S by the chamber criticized the action as emblematic of an aggressive SEC enforcement stance that could force more digital asset companies to end offerings in the U.S and again how is any of that Protecting you the SEC continues to say that they’re there to protect investors they making all these crypto companies pay a lot of money just to fight them and ask the you know coinbase has stated that they’ve tried to ask the SEC for over a year what they need to do to get Registered with them and they’re getting stonewalled and then you Gary gents are saying that you just need to fill out a form on the website it’s just it’s just that easy like the amount of lying going on is totally unbelievable by whichever side I don’t Know uh but at the end of the day our our politicians and lawmakers they need to make laws about what crypto is you know is it a security is it not a security is it commodity is it something else they they need to do that and that Way there’s no question and we just move forward and it you know it doesn’t matter if you’re a Brad Sherman who hates cryptocurrency or you’re a Cynthia Lumis who loves cryptocurrency it doesn’t matter I think that at the end of the day we can come to an agreement On there needs to be a classification for crypto and then go on from there you know uh the SEC hasn’t protected any investors from grayscale from coinbase from FTX from Bitcoin from I mean they’ve done none of it and what I told you guys in 2021 before the top of the Market I made a video and the video it said the SEC is going to crash Bitcoin in that video I explained to you guys that the SEC is on the cusp of approving Bitcoin Futures ETFs which they ended up approving in October or November of 2021 when they Did this back in 2017 the day after they launched those Bitcoin Futures contracts the price plummeted and began the descent into the bear market and I told you guys they were going to do the same thing and they did it they approved Bitcoin ETFs Bitcoin Futures ETFs the day after they launched It the prices started to go down and so understanding that right how are they really protecting investors like give an example of how they are protecting investors I think that giving Clarity to crypto companies being an investor in coinbase uh knowing that coinbase has a way to operate without having to spend Millions or hundreds of millions of dollars you know Ripple just explained that their their lawsuit again with the SEC is going to cost the company over 200 million dollars where do you think Ripple’s getting that money from they’re still selling their xrp and who are they selling it to Right that’s where they’re getting the 200 million dollars from maybe not all of it but some of it and so that like how is that protecting investors like I just don’t get it and it’s so frustrating because it’s just like the never-ending Loop of nonsense um and just no Clarity anyway moving on World coin’s new app is going to be migrating from polygon to optimism well well well why are they leaving polygon so Sam Altman’s crypto project World coin is launched it’s World app earlier in the week and they’re set to migrate from the app from polygon to optimism The world coin foundation and tools for Humanity announced that partnership with optimism Collective as part of the collaboration World app will migrate to optimism May net from the polygon main net the world ID protocol will also be available on the optimism main net they said with more than 1.6 million sign ups In beta and 500 000 monthly active World app users the deployments on optimism mainnet will expand access to help World coin reach a value as values aligned ecosystem of developers and users so yeah I mean we are seeing a lot of building going on right now and in the I Cannot pause this video for anything it’s literally not letting me pause it I think we got to stop using the block uh website but anyway uh so the CEO of chat GPT maker openai co-founded worldcoin in 2020 with the aim of allowing people to prove their Humanity online it’s eyeball scanning orbs have Attracted controversy in addition to millions of dollars in Venture Capital funding World coin said it’s alignment with optimism ecosystem goes back to December of 2020 when it started to work uh with them on Hubble and optimistic roll-up originally started by the privacy and scaling Explorations team at the ethereum foundation the world app Beta was initially launched using Hubble then it moved to polygons proof of stake Network as optimism arbitrary were too expensive given the Project’s scale so they give users a way to manage their world ID a tool for proving personhood online alongside a range of cryptos including Bitcoin ether die usdc and World coins owned forthcoming token when the app was unveiled earlier in the week worldcoin said the full version would run on an ethereum roll-up without disclosing which they said we’re incredibly excited to see Partners like World coin choosing optimism mainnet as their new home and joining in the Building out the super chain they said today they’re feeling very optimistic about the future of decentralized governments and identity very interesting stuff guys and I don’t know if uh world’s coin is going to be AI you know integrated or related or whatever I would imagine it somehow will Be but again where is all the new technology being built on the blockchain right and cardano scaling nude Hydra head goes live on the blockchain’s main net now we’ve been covering this for years now with the development of Hydra which is the scaling solution for cardano to make transactions even faster And now Hydra is active on the main net according to developers the tool is the first in a planned Suite of products each Hydra head works as an off-chain mini Ledger shared between a small group of participants helping speed up transactions while lowering fees significantly similar to the Bitcoin lightning Network According to some statistics that Charles hoskinson talked about during the development phase over the last few years was that each Hydra head or node uh on the layer 2 would essentially be able to handle 1000 transactions per second so if you have 1 000 Hydra heads in a diversified uh You know ecosystem thousand heads of a thousand transactions per second would be 1 million transactions per second and so Sebastian Nagel said after I can’t see the profile but anyway it’s after demonstrating Hydra head on the cardano main net in recent month the review sessions we have released the First mainnet compatible version of a Hydra node today that was posted on May 11th of 2023.developers can use Hydra to add specialized complex D5 protocols on top of cardano the nodes release the latest of several D5 Focus upgrades on cardano this year January so the launch of cardano Base defy Stablecoin to Jed and in February cardano developer IO Global proposed a way of improving cross-chain transactions for interoperability now as you guys know my thesis in uh you know analysis of this Market is that the Cardinal price just does not move during bear markets and you know I still see the comments on These videos that are like what cryptovisor how can you not how can you support cardano and not own it it’s like well I think the price is going to go lower at some point so why would I own it now oh because you’re going to miss the boat it’s like I’m not missing Anything it’s not how you invest you don’t invest on you may miss it Dogecoin may go to fifty dollars it’s not likely going to go immediately there maybe over the course of the next 10 15 years but it’s probably not going to go that High and so should I buy it just in case that would make no sense right that’s not investing we invest on this channel so I’m not holding cardano at this point what happened during the last bear Market was basically sideways trading in a very tight range cardano has been in a very Tight range between about 25 cents and 45 cents that’s a very tight range watch watch so my long-term viewers you guys get it there’s going to be a comment but cryptovisor if it goes from 25 cents to 45 cents that’s almost 100 increase why would you not hold it Because I think it’s going lower right we’re not in a bit bull market right now there’s other assets that I’d rather be in for this move like Litecoin which is having a having this year right like Stellar which hosts the usdc stable coin and fed now is the cbdc is essentially Being launched by the Federal Reserve in July like that’s why I want to be in those coins so I’m not holding car down right now but everything that there we’re seeing with development and deployment of these Technologies is very good because it’s bringing cardano closer to this interoperable uh ecosystem they already Technically have ai somewhat integrated with singularitynet and agix coin um I’m not saying anything positive or negative about the coin I don’t really know that much about it but I do know Singularity has been partnered with cardano for quite a while um Ben gertzel who’s the AI expert like They’re they’re partnered with cardano already so it’s going to be much easier in my view for cardano to integrate AI capabilities into the blockchain versus you know other of these other chains that literally have to start from scratch so let me know your thoughts on that finally block fi can return nearly 300 Million dollars to some wallets according to the bankruptcy judge so around 300 million can be returned to customers who held crypto in custodial accounts meaning non-interest-bearing accounts uh according to the judge while it transfers from interest bearing accounts to custodial wallets that did not occur after November 10th will be eligible They said customers who still like crypto tied and interest-bearing accounts totaling 375 million dollars no longer have the right to those assets despite receiving an email and in-app confirmation from block fi essentially the court gave the the money to the estate and this is essentially the worst thing that we could have heard From these bankruptcy courts because essentially right now like there was a lot of conversation about whether coinbase if they went bankrupt if they went bankrupt would crypto assets that they hold for customers be like owned by the customers or does it go over to the estate and Based on this ruling it seems like they’re the judge said that it goes to the estate which means that lenders get paid back before you as a customer who actually had your money there that’s why we need custody rules and laws that are updated specifically for crypto and we Need this from Congress right away that way customers are actually protected and not this you know customers were not protected from block five from FTX Voyager from Celsius from three hours capital they weren’t protected and the SEC is now going after these companies that are trying to protect their customers like Coinbase but are getting the Stonewall from the SEC there’s a lot going on guys but generally speaking crypto has come a really long way back to the video from the beginning of Eric Voorhees I am very very bullish in the future of crypto whether it’s you know this year is gonna You know there’s we’re almost halfway through the year right then we’re halfway to 2024.all we got to do is get to 2024 get through that Bitcoin having cycle and I think we are all going to be in a much better place and these prices are going to melt faces It’s going to be crazy guys but it’s going to be fun don’t forget to give the video a thumbs up let me know your thoughts down below 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